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cnbc.com
Samsung Electronics, SK Hynix shares tumble over 7% as chip rout spreads from Wall Street
Shares of Samsung Electronics and SK Hynix plummeted more than 7% in early Thursday trading.
cnbc.com
Russia launches massive strike on Ukraine as Poland scrambles jets, Finland restricts airspace
The Russian defence ministry said that it launched a "massive strike using long-range precision air, land, and sea-based weapons and attack drones."
cnbc.com
OpenAI proposes 5% stake to Trump administration to ease Washington pressure: report
Trump said in June that the U.S. taking an ownership stake in AI giants would be "a beautiful thing" and make American public "partners in this revolution."
bbc.co.uk
I needed to use a food bank after graduating - now I want to end the stigma
Steven, who now runs his own therapy business, struggled to make ends meet after graduating.
cnbc.com
Volkswagen braces for boardroom showdown over historic cost-cutting plan
Volkswagen is poised for a boardroom showdown following reports that the auto giant is weighing up shutting four factories and implementing 100,000 job cuts.
cnbc.com
Amazon is designing its own AI chips for Echo, Fire TV and future devices, exec tells CNBC
Amazon hardware chief Panos Panay says the company is designing custom chips for key devices as it experiments with AI gadgets.
bbc.co.uk
World Cup dreams shattered as StubHub tickets cancelled at last minute leaving fans stranded outside stadiums
Hundreds of fans who bought World Cup tickets on resale site StubHub say they have had them cancelled at the last minute.
cnbc.com
Shares of BYD and Xiaomi surge as June delivery figures fuel optimism
Hong Kong-listed shares of Chinese electric vehicle makers surged, after companies posted June vehicle data that helped to buoy investor sentiment.
cnbc.com
Oil falls as easing Middle East tensions send Brent to its worst quarter since 2020
Oil prices fell more than 1% on Wednesday after talks between Washington and Tehran concluded.
cnbc.com
Europe wants to rebalance trade with Beijing, but can't quit Chinese air conditioners
An historic heat wave has driven unprecedented demand for Chinese-made air conditioners in Europe, underscoring the tough task Brussels faces in rebalancing trade with Beijing.
cnbc.com
CNBC Daily Open: Trump’s 'best' trade deal gets another look
The U.S. has not renewed the United States-Mexico-Canada Agreement, an agreement that President Donald Trump once called "the best agreement we've ever made.
cnbc.com
Alibaba-affiliate Ant Group rushes into humanoid robots with a dozen deals in 18 months
Ant has led a 500 million yuan ($73.59 million) funding round in humanoid robotics company Zeroth, the start-up announced Thursday.
cnbc.com
Inside India newsletter: Amazon, Walmart-owned Flipkart get ready to shake up India's delivery-in-minutes sector
Amazon and Walmart-owned Flipkart are scrambling to expand quick commerce operations in India, not just to chase growth but to remain relevant to consumers.
cnbc.com
South Korean government discriminated against Coupang, U.S. companies, House report finds
The House Judiciary Committee said the South Korean government discriminated against Coupang and other U.S. companies, in a new report.
bbc.co.uk
Don't expect trackers to save your stolen car, experts say
Kia told the BBC UK law prevented its location tracking function being used to live track vehicles.
cnbc.com
Why Japanese airlines' $400 fuel surcharges are hitting now — and when they will end
Fuel surcharges at Japan Airlines and All Nippon Airways increased Wednesday, despite falling jet fuel costs in Asia.
bbc.co.uk
Diesel sees biggest monthly fall in 26 years. What's happening to fuel prices?
When the US-Israel war with Iran began, fuel costs jumped, but they are now plummeting as hope of lasting peace grows.
bbc.co.uk
'We had to use a food bank after university’
Steven Crichton and his partner Kat skipped meals to make sure their children "had full lunch boxes".
bbc.co.uk
Halifax brand to be scrapped after 173 years
Lloyds says it remains committed to the town of Halifax and very little will change for customers.
cnbc.com
Meta pops 9% as company makes cloud push to sell excess AI compute power capacity
The new business is a welcome signal for some investors who have been uneasy about the company's infrastructure spending plans.
theguardian.com
Rapid spread of AI may worsen global inequality, UN warns
Panel proses shared framework for responsible AI development as adoption grows unevenly across worldA new United Nations report warns that the development of artificial intelligence may exacerbate global inequality and proposes a shared framework for how to responsibly develop AI, as adoption and investment into the technology accelerates unevenly across the world.“The more AI advances without shared rules, the less say governments and people will have in the outcome,” said António Guterres, the UN secretary general, at a press conference on Wednesday. “Our message to governments is simple: do not wait … the science is here. We can no longer say we did not know what we do.” Continue reading...
bbc.co.uk
US blocks long-term renewal of North American trade deal
US blocks 16-year North America trade deal renewal, triggering annual rolling reviews
cnbc.com
U.S. won’t renew USMCA, opening door for negotiations with Canada and Mexico
President Donald Trump's "primary" issue with USMCA centers on America's trade deficits with Canada and Mexico, a senior administration official said.
bbc.co.uk
Bibles, Home Alone and perfume: Six takeaways from Trump's 2025 finances
Official documents show the US president made billions of dollars as he returned to the White House.
cnbc.com
Warsh faces multiple alternative inflation signs as Fed charts new course
Warsh has said that inflation is a "choice." The same could also be true of how inflation is measured.
bbc.co.uk
Trump made more than $1bn from crypto in first year back in office
The president's crypto income far outpaces his earnings from real estate and Trump-themed items such as watches.
bbc.co.uk
Brewery boss who banned phones and swearing from pubs dies aged 81
Humphrey Smith had been at the helm of the Tadcaster brewer since the 1980s.
cnbc.com
Buy the UK DIP? Defense stocks lifted by $20 billion spending boost as gilts come under fire
British defense stocks are marching higher once again after the U.K. confirmed a near-$20 billion military spending boost on Tuesday.
bbc.co.uk
Romesh Ranganathan 'gutted' over bakery closure
Coughlans Bakery says it has gone into voluntary liquidation over hikes in national insurance and business rates.
bbc.co.uk
Money Box
Money Box Live considers what buying a flat means for your finances?
bbc.co.uk
Trump's $1.4bn crypto earnings revealed
US President Donald Trump made more than $1.4 bn (£750m) last year from business dealings in cryptocurrency, according to his mandatory financial report for 2025.
bbc.co.uk
Up to 150 ex-WHSmith High Street stores to close as rescue deal approved
The sweeping restructuring, approved by a court, will see steep rent cuts on most remaining stores.
theguardian.com
No console-flation: how the thirst for AI chips is sending games console prices soaring
AI datacentres, memory scarcity and factory capacity are costing consumers –and console makers• Don’t get Pushing Buttons delivered to your inbox? Sign up hereIt was once a truth universally acknowledged that an ageing console in possession of good revenue must be in line for a price reduction. Those days may be over. In March, Sony announced a price increase of £90 for the PS5, while last month Microsoft informed gamers that it would be charging at least £75 more for the Xbox Series S and X consoles from August. All three were first released back in 2020. The Switch 2 will also be more expensive globally from September.The main culprit, of course, is AI, or more specifically the exploding demand for semiconductors and memory to power datacentres. Console manufacturers could once source these components cheaply, but now they’re in high demand and manufacturers can’t keep up, so deals are being struck. “Initially, the wave of price increases seen in gaming were driven by tariffs imposed by Donald Trump early last year,” says Andy Robinson, editor in chief of gaming news site VGC. “Then, in October, OpenAI announced a deal with Samsung and [Korean chip manufacturer] SK Hynix to acquire a huge portion of their DRAM output for datacentres, causing prices to increase by almost 200%. According to Xbox, those prices have since doubled again, and they’re not expected to come back down any time soon.” Continue reading...
theguardian.com
EU urged to exempt UK from car rules that could be worst Brexit impact yet
Bloc’s ‘made in Europe’ regulations risk shutting out British manufacturers in ‘most spectacular own goal in history’The EU’s car industry has called for the UK to be fully included in new “made in Europe” rules that threaten to shut out British manufacturers from their biggest export market.The European Automobile Manufacturers Association (Acea) on Wednesday urged Brussels to give the UK, Turkey and Morocco “justified, targeted exemptions” to the rules, which will require cars and parts to be made within the EU to qualify for subsidies or public procurement. Continue reading...
theguardian.com
Save student loan plan ends, leaving millions of US borrowers 90 days to find a new one
Trump administration is requiring borrowers to choose new options after Biden-era plan ruled unconstitutionalMore than 7 million Americans will be forced to change their student loan repayment plan beginning on Wednesday, as the Save plan officially ends. The termination of the Biden-era initiative, which was launched in 2023, coincides with a larger overhaul of the US student loan repayment system.The seismic changes to the student debt landscape are the results of the Trump administration’s One Big Beautiful Bill Act passed in 2025 and a March 2026 federal court ruling that the Save plan, an income-driven repayment program created with the goal of cutting undergraduate loans in half, was unconstitutional. Continue reading...
cnbc.com
Private payrolls rose by 98,000 in June, less than expected, ADP reports
Companies added slightly fewer workers than forecast, with hiring targeted heavily toward healthcare-related sectors.
theguardian.com
Crypto and stock stakes: key takeaways from Trump’s financial disclosures
US president raked in more than $1bn from crypto – an industry he has sought to deregulate – and a total of $2.2bn last year, files revealAlarm bells over conflict of interest as filing shows Trump raked in $2bn in 2025Donald Trump’s money-making ventures enriched him by more than $2bn last year, according to newly released financial disclosures.The revenue was supercharged by the Trump family’s crypto projects, with the documents showing the US president made more than $1bn (£0.76bn) from crypto – an industry he has sought to deregulate. Continue reading...
cnbc.com
Tech leads first half stock gains — but the biggest winners weren't in the U.S.
U.S. Big Tech stocks enjoyed strong gains — despite a sharp sell-off at the end of June — but were largely outperformed by their international counterparts.
cnbc.com
Gold losses ease after worst quarter in 13 years as interest rate fears hit bullion
Gold fell further on Wednesday, with bullion continuing its slide after suffering its worst quarter since 2013.
cnbc.com
Employers who laid off workers citing AI are already starting to regret it
Companies are realizing artificial intelligence can't do everything after all, prompting them to rehire employees to grow their businesses
theguardian.com
US cooking oil market shrinking due to Ice pressures on Latino households, Mazola owner says
Economic squeeze and anti-immigration raids have hit Hispanic communities, prompting people to shop online and reuse oilBusiness live – latest updatesThe US cooking oil market is shrinking and unlikely to improve soon because of economic and immigration enforcement pressures on Latino households, the owner of the Mazola brand has said.George Weston, the chief executive of Associated British Foods (ABF), told City analysts that cooking oil sales had suffered as “our heavy use consumer is that Hispanic population who are under financial pressure, who are under pressure from Ice [Immigration and Customs Enforcement] and are feeling a bit miserable”. Continue reading...
cnbc.com
Demand for riskier mortgages drops, as their advantages shrink
The spread between the 30-year fixed-rate mortgage and adjustable-rate loans is narrowing, causing demand for ARMs to weaken.
theguardian.com
Up to 150 former WH Smith stores to close as high court approves restructure
Restructuring plan involves writing off debts to suppliers and cutting rent for many landlordsBusiness live – latest updatesUp to 150 former WH Smith high street stores are to close after the high court approved a swingeing restructure that could affect thousands of jobs.The retailer, which has 450 stores and employs about 5,000 staff, was bought last year by the private equity firm Modella Capital, which also owns Hobbycraft, and rebranded as TG Jones. Continue reading...
theguardian.com
BBC staff fear strike action inevitable after anger at 1% pay rise offer
Unions reject proposed below-inflation increase which comes as corporation prepares to cut thousands of jobsBBC staff fear a strike is on the horizon at the broadcaster after anger over a below-inflation pay rise offer made amid plans to cut thousands of jobs.There is widespread consternation among staff at the offer of a 1% increase, seen as derisory given that inflation is running at almost three times that level. Continue reading...
theguardian.com
Halifax to disappear from UK high street as Lloyds axes bank brand after 173 years
Group confirms it will stop opening new accounts under the name and move existing ones to LloydsLloyds Banking Group has announced it is axing the Halifax brand, scrubbing the 173-year-old former building society’s name from UK high streets.The group will stop opening new accounts under the Halifax brand and kickstart a process of shifting existing accounts to Lloyds branding over the coming days. Continue reading...
theguardian.com
Trump’s affordability crisis hits his supporters hardest as he calls housing bill of ‘minor importance’
A housing shortfall, record home costs and cuts to subsidies are intensifying the US affordability crunchOf the various dimensions of the affordability crisis weighing on US families, housing probably weighs heaviest. The typical home price has risen above five times the annual income of the typical family. The monthly cost of owning a home has hit record highs.The US faces a housing shortfall of millions of homes. But builders are not rushing to meet the shortfall. The supply of new homes declined over 14% in May, compared to May of 2025. Moody’s Analytics expects single-family and multifamily residential investment to contract every year between now and 2030. Continue reading...
theguardian.com
Tell us: have you invested in gold through a specialist bullion company?
We’re interested in hearing from people who have bought gold coins, bars or other precious metals through specialist dealers or online brokersThe Guardian is interested in hearing from people who have bought gold or other precious metals through specialist online dealers or brokers, including gold coins, bullion or investment products.We would like to hear from people about what prompted you to invest and how was the buying process? Was your experience what you expected? Continue reading...
cnbc.com
Trump's annual financial disclosure shows more than $580M in crypto-related income
Trump's 927-page financial disclosure report for 2025 totals more than 900 pages detailing holdings in cryptocurrency and stocks.
cnbc.com
Anthropic says Trump admin has lifted export controls on Claude Fable 5 and Mythos 5
The U.S. Department of Commerce lifted the export controls on Anthropic's Fable 5 and Mythos 5 models
cnbc.com
Lamborghini reveals new Urus performance hybrid SUV after ditching EVs
Lamborghini is calling the new Urus SE Performante the "fastest Super SUV in the world."
theguardian.com
Anthropic says US has lifted export controls on Fable and Mythos AI models after security fears
AI company was forced last month to suspend access to its Fable 5 and Mythos 5 models for all foreign nationalsBusiness live – latest updatesAnthropic has restored customer access to its powerful newest AI model, Fable, after a more than two-week blackout resulting from US government safety concerns that it could be abused to enable serious cyber-attacks.The San Francisco company said export controls had been lifted, citing a social media post from the US commerce secretary, Howard Lutnick, in which he said: “Over the past two weeks, we have worked closely with Anthropic to analyze and approve Fable 5 to ensure alignment across the US Government and strengthen America’s leadership in AI.” Continue reading...
bbc.co.uk
Refunds: Hidden Tricks
Struggling to get a refund? Consumer journalist Rebecca Wilcox shares some tips.
bbc.co.uk
What will the energy cap changes mean for my bills?
Typical annual household bills rose by 13% under Ofgem's new energy cap which took effect on 1 July.
theguardian.com
An Aztec-tinged revamp topped with a crinkle-cut tiara: inside the sparkling £1.3bn Olympia reboot
It has hosted everything from Miss World to the Chemical Brothers. Now the vast London venue has become a city within a city boasting offices, hotels, a theatre, commanding views – and even a schoolThe money shot for the redevelopment of London’s Olympia exhibition centre is a bank of staircases and escalators soaring upwards, Aztec temple-style, to an elevated concourse sandwiched between the colossal barrel vaults of the original exhibition halls. In a modern homage to its historic predecessors, the concourse is also crowned by a glass vault, crimped like a fan, its origami pleats connoting sparkling, flashy newness, a tiara of cubic zirconia among the heritage diamonds.Looming behind the tiara is what appears to be a cluster of cylindrical towers, but are actually the rounded ends of a steroidal stepped office block, with master-of-the-universe views over London, from Wembley to Crystal Palace. Already ensconced and enjoying those views are the staff of the Premier League’s media production arm, which has a brand-appropriate mini football pitch on its expansive terrace. Continue reading...
theguardian.com
UK house prices stall for second straight month as agents warn of summer slump
Average price of typical home little changed at £277,484 in June, says Nationwide, while housebuilder shares fallBusiness live – latest updatesUK house price growth stalled for a second consecutive month in June as rising interest rates triggered by the war in Iran hurt homebuyer demand and agents warned of a summer slump.The average price of a typical UK home edged down to £277,484 last month from £278,024 a month earlier, after a 0.6% month-on-month fall in May, according to the lender Nationwide. Economists had forecast a small monthly rise of 0.1% in June. Continue reading...
theguardian.com
Call to suspend new EU border system in peak holiday period as planes leave half full
Airlines and airports say passengers are struggling in queues of up to five hours for biometric checksAirlines and airports have called for the new EU biometric border check system to be suspended during the peak summer holiday period, saying some flights are leaving half full and passengers are struggling in queues of up to five hours.In a letter to Ursula von der Leyen, the president of the European Commission, airlines and airports asked for an option to suspend checks under the system over fears the situation will get much worse during the busy summer season. Continue reading...
theguardian.com
Andy Burnham is about to have a crash course in hardcore geopolitics | Rafael Behr
The likely next prime minister would rather be in Warrington than Washington, but foreign policy will dominate his agenda more than he thinksIf Andy Burnham is lucky, he will get some time to adjust to the pace of life as prime minister before dealing with his first international crisis. It won’t be long.Donald Trump is an engine of constant turmoil. Aftershocks from his recent military adventure in the Middle East will be felt for years. None of the declared war aims were achieved. The Iranian regime was not toppled. The terms agreed for a ceasefire promise Tehran more generous sanctions relief with fewer conditions than were imposed under the nuclear containment deal that Barack Obama signed in 2015. It is a worse arrangement than the one Trump discarded in his first term as “one of the worst deals ever”. Stocks of US munitions and credibility have been drained.Rafael Behr is a Guardian columnist Continue reading...
theguardian.com
Minister and MP ‘furious’ over cuts to road projects to fund defence plan
Robert Jenrick and Hamish Falconer, MPs for Newark and Lincoln, among those whose constituencies now face cutsUK politics live – latest updatesThe Labour minister Hamish Falconer and the Reform MP Robert Jenrick have voiced anger at the cancellation or delay of key transport infrastructure projects to fund the defence investment plan.Falconer, the MP for Lincoln and Middle East minister, and Jenrick, the MP for Newark, were among those who have had cuts to road improvements in their constituencies, with savings contributing towards the increase in defence spending. Two roads in the East Midlands are among those where investment cuts have been made to fund a £15bn uplift in defence. Continue reading...
bbc.co.uk
Why is crucial tech vulnerable to the heat?
Energy grids and train services are among the vital services that are vulnerable to very hot weather.
cnbc.com
Europe’s defense boom faces a new test: Can it actually deliver weapons?
Europe’s defense boom faces a test as investors weigh whether budgets and backlogs can become weapons, factories and returns.
cnbc.com
Xi touts China Communist Party's global influence in speech marking 105th anniversary
Chinese President Xi Jinping spoke Wednesday to commemorate the 105th anniversary of the ruling Communist Party of China.
cnbc.com
Corruption cases, investibility warnings, fiscal woes: Indonesia continues to test investors
This comes amid a high-profile corruption sentencing and an MSCI warning Indonesia could be downgraded to frontier-market status.
cnbc.com
North Sea oil and renewables: The UK’s next PM faces a defining energy policy decision
Andy Burnham could face an early test over North Sea oil drilling as energy shocks revive the UK energy security debate.
theguardian.com
ScottishPower owes me £1,000 in solar panel payments
For months I’ve been trying to receive my FIT payment, which should be more than £1,000I moved into my new house 14 months ago, and soon afterwards applied to ScottishPower, with whom the solar panels are registered for a feed-in tariff (Fit), for transfer of ownership of the panels and the tariff.After many emails back and forth, I got a response saying they had all the information required. Continue reading...
cnbc.com
Japan spent $74 billion propping up the yen. Investors say the real battle is with the Fed
Yen intervention alone is unlikely to reverse losses while wide U.S.-Japan rate differentials keep supporting the dollar, said analysts.
theguardian.com
‘Complicated and expensive’: Burnham is right about the risks of nationalisation | Nils Pratley
Track record of Welsh Water shows public ownership is not the answer to all the woes in the utilities sectorGood news for Andy Burnham: one of the original 10 water privatisations from the Thatcher-era has returned to public ownership already. Thanks to a complicated turn-of-the-century corporate saga, Welsh Water, serving 3 million people, converted to not-for-profit status in 2001. It has no shareholders. Financial surpluses go “straight back into keeping bills down and looking after your water and beautiful environment”, as the website blurb puts it.How’s it going? After a quarter of a century without dividend-hungry shareholders to feed, has the model proved its superiority? Not exactly. Welsh Water usually has high scores on customer trust metrics but its performance on bills and spills tends to be middle of the pack. Continue reading...
theguardian.com
Energy price cap rise ‘will push millions in Great Britain into fuel poverty’
Typical bill will surge by £220 a year from Wednesday, forcing 13.5m homes to spend over 10% of income on fuelMillions of households in Great Britain will be pushed into fuel poverty after months of volatility on the global gas markets as energy bills rise by more than £220 a year under the government’s price cap from Wednesday.As the cap on gas and electricity rates rises to the equivalent of £1,862 a year, the number of households forced to spend more than 10% of their income on energy bills will increase to 13.5m from almost 11.3m in April, according to fuel poverty campaigners. Continue reading...
bbc.co.uk
Anthropic says US lifts export ban on its advanced AI tools
Fable and Mythos were abruptly suspended in June over concerns that they could be used by hackers.
theguardian.com
‘Fine for others to pay more’: can Japan attract more overseas tourists while charging them extra?
Japan has ambitious targets to increase overseas visitor numbers, but there are growing concerns about overtourism. One possible answer is two-tier pricingPerched dramatically on a hilltop in western Japan, Himeji castle’s striking white-plastered, tiered roofs earned it the moniker “white heron castle”. The sweeping 17th-century complex is regarded as the finest existing samurai fortress, and attracts more than one and a half million visitors a year.But as Japan seeks to manage greater numbers of foreign tourists, Himeji is one of the attractions raising admission prices for non-residents. The World Heritage site increased its admission fee to 2,500 yen ($15.50) on 1 March, but left the price for those who live in Himeji city at 1,000 yen ($6.20). Continue reading...
theguardian.com
The Burnham blueprint, as told by one of its architects – podcast
Andy Burnham has set out his economic plans for Britain. Neal Lawson, from the Burnham-aligned group Mainstream, explains the thinking behind itHelen Pidd has been one of Andy Burnham’s constituents for almost a decade now. She says she has seen Greater Manchester thrive on his watch. Now he wants to do for the rest of the country what he has done for her region. On Monday Burnham stood up in the People’s History Museum in Manchester and delivered his economic manifesto. Barring some 11th hour challenge or unforeseen calamity, he will have moved into No 10 by the end of July. But he says he wants to build another No 10. A Manchester one. What he is promising is radical, but just how credible is “rewiring” Britain?Neal Lawson is the founder of pressure group Compass, and more recently the Burnham-aligned Mainstream. He explains to Helen why Burnham is so keen to devolve power and what he wants to nationalise. But, he says, “I think what Burnham has done is kind of, by a sort of minor miracle, reach base camp. And now there’s the mountain to climb.” Continue reading...
bbc.co.uk
Australia sues Amazon for making allegedly unfair contracts with subscribers
The Australian Competition and Consumer Commission (ACCC) says Amazon has broken consumer protection law
bbc.co.uk
Chinese tycoon sentenced to 30 years in US jail
Guo Wengui branded himself as a China critic, gaining followers who backed his fraudulent schemes.
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
Plea for households to read energy meter as prices rise
Household energy prices have risen by 13% a year as regulator Ofgem's latest price cap kicks in.
theguardian.com
Northern Rail Project risks repeating costly HS2 failures, MPs warn
The £45bn scheme to link cities across north of England with new or upgraded lines has no convincing or properly costed plan, committee saysBuilding Northern Powerhouse Rail (NPR) risks repeating the failures of HS2 with “no convincing plan” to deliver it within a £45bn budget, an influential committee of MPs has warned.The government announced in January its commitment and funding for the NPR project to connect cities across the north, consisting of new or upgraded lines between Liverpool, Manchester, Leeds, York and Sheffield. Continue reading...
theguardian.com
Britain has finally grasped the nettle on defence, but tough choices lie ahead
The new PM must balance the security budget and other urgent spending priorities, with little room for manoeuvreBurnham left with £4.7bn bill for Starmer’s new defence investment planKeir Starmer’s defence investment plan leaves behind spending problems that his successor will not be able to avoid.Military budgets will be well short of the UK’s Nato commitments by the end of the decade, and European allies and a combustible White House are likely to notice. Continue reading...
theguardian.com
The Guardian view on the defence investment plan: the UK needs security, not dependency on a wayward US | Editorial
Sir Keir Starmer cuts civilian investment while deepening reliance on American power. That doesn’t feel like national renewalSince Brexit, Daphne du Maurier’s final novel, Rule Britannia, has been seen as a prescient warning about the UK cutting itself adrift from Europe. After joining and then leaving the EU’s predecessor, the Common Market, in a referendum, Du Maurier imagined the UK facing such economic instability that its prime minister submits to a US takeover. Britain is occupied by US forces, sparking an uprising that eventually forces them to leave. Sir Keir Starmer’s defence investment plan (Dip) would not belong in Du Maurier’s novel, but has the same nightmare logic: a Britain adrift from Europe told that fiscal necessity and national security require deeper incorporation into American power.It shows the strain inside Sir Keir’s government that the plan took a year to move from strategic defence review to partial funding plan. John Healey, the former defence secretary, resigned after deciding that the Treasury’s offer could not fund the strategy. His successor, Dan Jarvis, told MPs that the plan was worth £298bn over four years, which is £15bn above last year’s spending review settlement. Mr Jarvis said that he had secured £1.5bn more than was on offer when he arrived. Against the defence ministry’s demands, that looks less like a breakthrough than proof of why Mr Healey walked. Continue reading...
bbc.co.uk
Cruise passengers 'stranded' after air con failure to be flown home
Tui has apologised and told passengers it has arranged flights home for tomorrow and a full refund.
theguardian.com
Hospitality VAT cut: can it help the sector and at what cost to UK taxpayer?
Drop to 10% for pubs and eateries would be in line with most of Europe, but critics say it favours multinationalsBusiness live – latest updatesNearly a quarter of hospitality businesses are losing money, new data has shown, reigniting calls among chefs, pub owners and restaurateurs for their sector to be handed a reduced rate of VAT.It may seem like a no-brainer because the measure would ease pressure on the ailing sector and put the UK in line with most European countries. But critics say the measure would be extremely costly and reward big multinational businesses, without necessarily helping to spur growth. Continue reading...
bbc.co.uk
Shetland backs plan to connect islands with £1.5bn undersea tunnels
The undersea links between some of the UK's most northerly islands could be in place within eight years.
bbc.co.uk
Woman's Hour
We discuss the key findings of Baroness Amos' National Maternity Investigation.
bbc.co.uk
WhatsApp to let people chat by swapping usernames instead of phone numbers
The app's new usernames feature will be rolled out globally over the next few months.
bbc.co.uk
Homes harder to sell as high mortgage rates frustrate buyers
Three in five homes listed for sale since January remain on the market, says property portal Zoopla.
theguardian.com
I’m paying £450 a month for a Peugeot EV I can’t drive
The car lease company won’t rescind my contract because it says the vehicle is driveable. The only problem is, it won’t even chargeMy brand new Peugeot EV stopped working within a fortnight of delivery.The dealer postponed the repair appointment by a month because it was too busy. Peugeot Assist, operated by the RAC, eventually collected it for repair under warranty two weeks ago, but it never reached the dealer. Continue reading...
theguardian.com
Millions of Britons urged to submit meter readings before energy price cap rises on Wednesday
Estimated 5.3m households on standard tariffs without smart meters risk being overcharged for some of June usageMillions of Britons could pay higher energy bills than they need to if they do not submit a meter reading before the price cap rises on Wednesday.The estimated 5.3 million households on standard tariffs who do not have a smart meter have been urged to take action before the new unit rates for gas and electricity take effect. Continue reading...
theguardian.com
‘Commanding heights of the economy’: the postwar blueprint that inspires Burnham
In the second of a series on nationalisation, we look at the lessons from Clement Attlee’s administrationWill Andy Burnham ‘go big’ in expanding the role of the state?A prime minister with ambitious plans for state ownership. Private companies that put profits before investment. A country struggling with onerous debts.The UK in 2026 with a new prime minister weighing up how and what price public utilities can be nationalised? No, this was Clement Attlee’s government in 1945, committed to taking over the commanding heights of the economy at a time when the country was on its uppers. Continue reading...
theguardian.com
‘Am I losing this battle? Yes’: Martin Lewis on the online scams that steal his identity – and others’ life savings
Trusted by millions, the finance expert has seen his name and face used to mis-sell a string of fake investments. And yet, he says, it would be ‘very simple’ for the government to stop themThis month, an email from a consumer landed in Martin Lewis’s inbox. It was from an elderly woman with a disability who had been scammed when she invested in a scheme purportedly endorsed by Lewis – and lost her life savings. “THEY ARE BASTARDS!” Lewis wrote at the top of his social media post about it. Even though the personal finance expert is a veteran campaigner against fraud, he says he had “tears running down my face”. He still sounds upset. “I felt a mixture of frustration, anger and sadness.” Not only for the plight of the woman, but for the “constant, ongoing deluge of shit from the scammers”.Lewis never advertises anything. To hammer home the point, his social media profile picture has the words “I don’t do ads” tattooed on his forehead. But still, people fall victim to deepfake videos and frauds that appear to show him offering investments. The scale of harm is great enough that MoneySavingExpert (MSE), the company Lewis founded in 2003 and sold in 2012 for up to £87m – he is now its executive chair – has someone full-time handling these cases. Continue reading...
bbc.co.uk
India's biggest share sales tell the story of a country glued to its phones
NSE and Jio Platforms embody the sweeping changes in how India has consumed, invested and transacted over the past decade.
bbc.co.uk
We had packed lunches every day for 10 years and retired at 40
The Fire (Financially Independent, Retire Early) movement sees followers save as much as possible.
bbc.co.uk
Hollywood director gets two and a half years in prison for defrauding Netflix
He was accused of using money for a Netflix show on lavish purchases like Rolls Royces and Ferraris.
bbc.co.uk
Will Andy Burnham's devolution plan raise economic growth?
BBC Verify has looked at what impact further devolution could be expected to have on the UK.
theguardian.com
Will Andy Burnham’s economic vision make us all better off? | Politics Weekly
Andy Burnham has made his first major speech since returning to Westminster. He announced proposals for a No 10 in the North as part of plans to devolve power and spread resources across the country. He said he wanted to regenerate towns, prioritising places that had been left behind.It sounds a lot like the “levelling up” of the Boris Johnson years, so can Burnham really make a change? Continue reading...
bbc.co.uk
Supreme Court blocks Trump's attempt to fire Federal Reserve Governor Lisa Cook
The decision, seen as a win for central bank independence, sends the fight over removal back to the lower courts.
bbc.co.uk
Burnham's 'Manchesterism' could change the UK, but is not yet a full economic plan
Andy Burnham's speech depicted a different way of seeing and running the UK, though there are many other questions about the detail.
bbc.co.uk
British American Tobacco to cut 9,000 jobs
The company had said earlier this year it was planning savings to make it "more digital and AI-focused".
theguardian.com
Holidaymakers warned over social media scams for fake accommodation
Research suggests travel scams are on rise as experts advise doing some detective work to make sure holidays are realHolidaymakers have been advised to carry out amateur detective work to ensure they do not book into fake accommodation this summer, as research showed a third of travellers had seen an increase in potential travel scams on social media.Consumer experts have urged holidaymakers to do a reverse image search on photographs of holiday homes and check their locations on an online map to verify they are real. Continue reading...
theguardian.com
Good for business – or profit at any cost? The controversial side of private equity – a visual explainer
While it can transform firms for better or worse, the use of private equity in essential services is attracting scrutiny. Here we examine some of its more contentious elements in the UK veterinary sectorPrivate equity could be the two most controversial words in business. For its supporters, it can bring investment, expertise and efficiency to a company. For critics, it is a one way ticket to profiteering, cutting costs and losing staff.The arguments over private equity are particularly fierce when it is used in the public sector, particularly the NHS. Continue reading...
bbc.co.uk
The Everyday Hustle
Af Malhotra sits in and discusses how entrepreneurs can use AI daily with Polly Dhaliwal.
theguardian.com
‘Crypto v community’: 4,000 local US lenders join forces to fight ‘stablecoins’ law
Up to 4,000 community banks fear looming legislation to regulate digital cash will deprive rural firms and farmers of $850bn-worth of loansOn a quiet summer morning, above a small mid-western town, an American flag is waving in the breeze. The camera cuts to a father helping his son at the wheel of a tractor, and flits to a smiling couple on a grass-lined pavement, moments before flashing to grainy images of “crypto insiders” in suits.“American families don’t want experiments with their money,” a voice booms. “They want jobs, growth, and available credit. When crypto gets a free pass, communities pay the price.” Continue reading...
theguardian.com
A US bus travel boom looks likely – but will Greyhounds ever be cool again?
For most Americans, riding a bus means abandoning expectations of basic dignity – but with an increase in ridership, that could change“It’s a grueling experience,” Greyhound bus enthusiast Miles Taylor explains. “You’re not treated very well. Everyone is yelling at you the entire time. When the bus is late, they blame you for it, like somehow you’ve done something wrong. You just get screamed at for wanting to know what’s going on, because no one says anything.”Taylor is obsessed with public transit. “I never really grew out of my little boy train phase,” the 26-year-old said. He works as a scheduler for Boston’s MBTA and runs a popular YouTube account documenting the bus trips he takes for fun in his spare time. Taylor traveled across the country by Greyhound twice; a Boston to Seattle route took 104 hours. But even he admits that America’s bus system is far from luxurious – or even comfortable. Continue reading...
theguardian.com
‘British food will disappear’: trade deal after Brexit is hitting UK farmers hard
Home-grown food may become a niche product for wealthy in our supermarkets as British farmers’ incomes plummetFor Liz Webster, who farms 647 hectares (1600 acres) in Wiltshire, south west England, the latest impact of Brexit has been particularly brutal. About £400 per animal has been wiped off the price she can get for her beef cattle, a hefty blow at a time when all the inputs – feed, energy, fertiliser – are going through the roof.The fall in price, on livestock that typically fetch £2,000 to £3,000 per animal, is the result of a flood of cheaper meat arriving from Australia, the result of one of the new trade deals the government has signed since the UK left the European Union. Prices for beef in the supermarkets have remained broadly the same, but farmers have seen their income plummet. Continue reading...
theguardian.com
UK minister working up plans for state-owned housing developer
Exclusive: Steve Reed is looking at government run scheme that could borrow at lower rates than private developersThe housing secretary has been working up plans for a state-owned housing developer, according to details leaked to the Guardian, as the government looks for ways to stimulate stubbornly low rates of housebuilding.Steve Reed has been looking at proposals to set up a new state-owned developer which could borrow at lower rates than private developers and housing associations, according to plans leaked to the Guardian. Continue reading...
theguardian.com
The king, his millions, and the first public royal tax bill – The Latest
King Charles has become the first monarch in modern times to reveal how much tax he pays on his private income: £24.6m over the last two years.The move comes after years of calls for the monarch to be more open with the public about the royal finances. Some are heralding this as a new era of transparency – but just how open has the revelation been?Lucy Hough speaks to our European financial affairs editor, Juliette Garside Continue reading...
theguardian.com
‘Fork in the road’: CEO of Amazon-backed Rivian on why carmakers need to invest in EVs
RJ Scaringe says firms focused on selling fossil fuel engines risk being ‘woefully behind’ on technology by end of decadeCarmakers that focus on selling fossil fuel engines are at risk of being “woefully behind” on technology by the end of the decade, according to the boss of Rivian, an Amazon-backed US electric carmaker.RJ Scaringe, Rivian’s founder and chief executive, said the car industry has reached a “fork in the road” in the choice between short-term profits and the heavy investments, particularly in software, that will be required to survive. Continue reading...
theguardian.com
Brexit: An Oral History – podcast
This week marked 10 years since the UK chose to leave the EU. In a series of interviews with key players from both sides, Kiran Stacey looks back on the Brexit vote that changed the country foreverRead the Guardian’s full article on Brexit here Continue reading...
bbc.co.uk
The legal fight to get equal pay for Germany's disabled workers
A test case is seeking the minimum wage for 300,000 disabled people who currently get paid less.
bbc.co.uk
Do you know your 'sweat score'? The rise of hydration tech
Hydration tracking gadgets are flooding the market but is it too much information?
bbc.co.uk
Is Germany looking again at coal-powered electricity?
It had planned to abandon the fuel, but the higher cost of natural gas may make it think again.
bbc.co.uk
The artificial ice pyramids saving India's mountain villages
Himalayan villages are creating artificial glaciers to guarantee water for their crops in the spring.
bbc.co.uk
'We had to get out of the way': The backlash over delivery robots
As the delivery vehicles increasing take to US streets, bans and protest groups are springing up.
bbc.co.uk
What is Helium-3 and could we get it from the moon?
Helium-3 is expensive and demand is forecast to soar, so some are planning to mine it on the moon.
bbc.co.uk
Why I sold my business to my staff
As more US company owners reach retirement age many are selling up to their employees.
bbc.co.uk
India's 'blue gold' starts a new drinks industry
Agave plants grow wild in India and new distillers are using them to create a spirits industry.
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
New candy stores are popping up across NYC. Why?
While US consumer confidence is at an historic low the Big Apple's sweet shops are expanding.
bbc.co.uk
Could humanoid robots be heading for the battlefield?
Armed forces are experimenting with humanoid robots, but battlefield deployment is some way off.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
bbc.co.uk
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
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